American Century Companies Inc. Increases Stock Position in Blueprint Medicines Co. (NASDAQ:BPMC)

American Century Companies Inc. grew its stake in shares of Blueprint Medicines Co. (NASDAQ:BPMC) by 4.2% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 802,733 shares of the biotechnology company’s stock after buying an additional 32,600 shares during the period. American Century Companies Inc. owned 1.28% of Blueprint Medicines worth $86,519,000 as of its most recent SEC filing.

Several other institutional investors also recently made changes to their positions in the stock. Candriam S.C.A. grew its stake in shares of Blueprint Medicines by 30.0% during the 2nd quarter. Candriam S.C.A. now owns 52,066 shares of the biotechnology company’s stock valued at $5,611,000 after buying an additional 12,001 shares during the period. Arizona State Retirement System grew its stake in shares of Blueprint Medicines by 2.6% during the 2nd quarter. Arizona State Retirement System now owns 16,285 shares of the biotechnology company’s stock valued at $1,755,000 after buying an additional 414 shares during the period. Victory Capital Management Inc. grew its stake in shares of Blueprint Medicines by 28.5% during the 2nd quarter. Victory Capital Management Inc. now owns 264,995 shares of the biotechnology company’s stock valued at $28,561,000 after buying an additional 58,796 shares during the period. Rhumbline Advisers grew its stake in shares of Blueprint Medicines by 6.0% during the 2nd quarter. Rhumbline Advisers now owns 91,543 shares of the biotechnology company’s stock valued at $9,866,000 after buying an additional 5,160 shares during the period. Finally, nVerses Capital LLC boosted its position in Blueprint Medicines by 3,100.0% during the 2nd quarter. nVerses Capital LLC now owns 3,200 shares of the biotechnology company’s stock worth $345,000 after purchasing an additional 3,100 shares during the period.

Insider Activity at Blueprint Medicines

In related news, insider Debra Durso-Bumpus sold 333 shares of the business’s stock in a transaction dated Friday, June 28th. The shares were sold at an average price of $111.15, for a total transaction of $37,012.95. Following the completion of the sale, the insider now owns 43,763 shares of the company’s stock, valued at approximately $4,864,257.45. The sale was disclosed in a legal filing with the SEC, which is available through this link. In related news, insider Debra Durso-Bumpus sold 333 shares of the business’s stock in a transaction dated Friday, June 28th. The shares were sold at an average price of $111.15, for a total transaction of $37,012.95. Following the completion of the sale, the insider now owns 43,763 shares of the company’s stock, valued at approximately $4,864,257.45. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Philina Lee sold 41,913 shares of the business’s stock in a transaction dated Monday, August 5th. The shares were sold at an average price of $93.19, for a total transaction of $3,905,872.47. Following the sale, the insider now directly owns 34,729 shares of the company’s stock, valued at approximately $3,236,395.51. The disclosure for this sale can be found here. Insiders sold a total of 128,947 shares of company stock valued at $13,065,852 in the last quarter. Insiders own 4.21% of the company’s stock.

Blueprint Medicines Stock Performance

Shares of Blueprint Medicines stock opened at $88.90 on Friday. The firm has a market cap of $5.63 billion, a PE ratio of -18.48 and a beta of 0.58. The firm’s 50-day simple moving average is $100.53 and its 200-day simple moving average is $99.17. The company has a debt-to-equity ratio of 1.06, a quick ratio of 3.65 and a current ratio of 3.71. Blueprint Medicines Co. has a 1 year low of $43.89 and a 1 year high of $121.90.

Blueprint Medicines (NASDAQ:BPMC) last announced its quarterly earnings data on Thursday, August 1st. The biotechnology company reported ($0.80) earnings per share for the quarter, beating analysts’ consensus estimates of ($1.29) by $0.49. Blueprint Medicines had a negative net margin of 56.64% and a negative return on equity of 157.30%. The business had revenue of $138.20 million during the quarter, compared to the consensus estimate of $104.02 million. During the same quarter in the prior year, the firm earned ($2.19) EPS. The company’s revenue for the quarter was up 139.9% compared to the same quarter last year. Equities analysts forecast that Blueprint Medicines Co. will post -3.99 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on BPMC. Guggenheim upped their price target on shares of Blueprint Medicines from $130.00 to $138.00 and gave the stock a “buy” rating in a research report on Friday, August 2nd. JMP Securities reaffirmed a “market outperform” rating and set a $125.00 price target on shares of Blueprint Medicines in a research report on Friday, June 7th. Robert W. Baird upped their price target on shares of Blueprint Medicines from $112.00 to $127.00 and gave the stock an “outperform” rating in a research report on Friday, August 2nd. Baird R W raised shares of Blueprint Medicines to a “strong-buy” rating in a research report on Friday, August 2nd. Finally, Morgan Stanley boosted their price objective on shares of Blueprint Medicines from $110.00 to $115.00 and gave the stock an “equal weight” rating in a report on Friday, July 12th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating, eleven have issued a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, Blueprint Medicines has an average rating of “Moderate Buy” and an average target price of $120.00.

About Blueprint Medicines

Blueprint Medicines Corporation, a precision therapy company, develops medicines for genomically defined cancers and blood disorders in the United States and internationally. The company is developing AYVAKIT for the treatment of systemic mastocytosis (SM) and gastrointestinal stromal tumors; BLU-263, an orally available, potent, and KIT inhibitor for the treatment of indolent SM, and other mast cell disorders.